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Maersk Oil Qatar signs two new contracts with Gulf Drilling International 

Doha, October 5th, 2013: Under the patronage and attendance of H.E. Dr Mohammed bin Saleh Al Sada, Minister of Energy and Industry, Maersk Oil Qatar (MOQ) and Gulf Drilling International (GDI) have signed two new contracts; one two-year contract for the GDI jack-up drilling rig (rig ‘B-341’), and another three-year contract for a new GDI offshore accommodation jack-up. The total value of these contracts is more than USD 205 million (750 million Qatari Riyals).   

The October signings represent the second and third major agreements between GDI and MOQ in 2013. In February this year, the companies signed a contract for the offshore jack-up drilling rig “Al Jassra”, which is already working in the Al Shaheen field. This makes the total agreements signed between MOQ and GDI in 2013 worth a combined amount of about USD 428.5 million (QR 1.56 billion).

The agreements were signed by MOQ’s Managing Director Mr. Lewis Affleck, and GDI’s Chief Executive Officer, Mr. Ibrahim J. Al-Othman. Also in attendance were: Mr Saad Sherida Al Kaabi, Director of Oil and Gas Ventures of Qatar Petroleum; Mr Jakob Thomasen, Chief Executive Officer of Maersk Oil; and Sheikh Faisal Bin Fahad Al Thani, Deputy Managing Director of MOQ. 

In his comments on the occasion, H.E. Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, Chairman and Managing director of Gulf International Services, hailed the visionary leadership of His Highness Sheikh Tamim bin Hamad bin Khalifa Al-Thani, the Emir of the State of Qatar, and his continuous support of the oil and gas sector. H.E. Dr. Al-Sada also acknowledged GDI’s rapid development and voiced appreciation of the high quality of service that it provides.

Speaking at the signing ceremony, Mr Jakob Thomasen, Chief Executive Officer of Maersk Oil, said, "In close partnership with Qatar Petroleum, Maersk Oil operates Qatar’s largest offshore oil field, Al Shaheen. As a trusted and reliable operator that is committed to supporting Qatar’s National vision of His Highness the Emir Sheikh Tamim bin Hamad bin Khalifa Al-Thani, Maersk Oil works closely with Qatari businesses to maximise local participation in its activities. Today’s signing with GDI is testament to this commitment."

Mr Thomasen continued, "Al Shaheen is one of the most complex fields in the world. More than twenty years of developing and operating the field alongside our partners QP, provides Maersk Oil with a unique level of experience and understanding of this challenging reservoir. Many more wells will be needed in the future to help successfully unlock the potential of the Al Shaheen field, and we’re therefore very pleased to continue our work with GDI, a local drilling contractor." 

On this occasion Mr Ibrahim J. Al-Othman, GDI’s Chief Executive Officer, expressed his sincere appreciation H.E. Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, Chairman and Managing director of Gulf international services for his unlimited support to GDI.

Mr Al-Othman added: "Today’s signing signifies another important milestone in the relationship between GDI and Maersk Oil Qatar. In recent months we have worked tirelessly together to bring the Al Jassra rig safely into operation, whilst simultaneously identifying and maturing two additional, very significant, opportunities for GDI to work with Maersk Oil in the Al Shaheen field. This is truly a great achievement, and one that we are very proud of. GDI continues to grow and flourish as an organisation thanks guidance and support of our GDI board of directors and the professionalism of its employees and the high quality technical solutions that we offer to our clients."   

About Maersk Oil
Maersk Oil is an international oil and gas company with operated production of about 600,000 barrels of oil equivalent per day from Denmark, the UK, Qatar, Kazakhstan, Brazil and Algeria. Exploration activities are on-going in Angola, Norway, the US Gulf of Mexico, Greenland, Iraqi Kurdistan and in the producing countries. Turning marginal and challenging fields into commercial successes has been the cornerstone of Maersk Oil’s business since 1962. Maersk Oil focuses on pioneering technologies and harnessing talent to continue to operate safely and successfully, creating value for partners and host governments. Maersk Oil is a fully-owned subsidiary of the global conglomerate, the A.P. Moller – Maersk Group. For more information about Maersk Oil, please visit the website at www.maerskoil.com